Former President Olusegun Obasanjo has expressed his concern about President Bola Tinubu’s leadership since taking office.

He bemoaned the struggles Nigerians are facing and the economic hardship resulting from Tinubu’s implemented policies.

Obasanjo raised issues about President Tinubu’s decision to follow the old ways of the International Monetary Fund (IMF) and World Bank.

According to him, the method known as structural adjustment is unnecessary due to Nigeria’s lack of structure.

He said: “Structural adjustment”, that term is loathed in Nigeria, and much of Africa, where it is associated with foreign-imposed austerity.

“What are we adjusting when we have no structure?”

Obasanjo also asked President Tinubu if he intended to shock Nigerians to death.

“You say it is shock therapy, but what is the shock? You want to shock your people to death.”

Sharing his thoughts on the devaluation of the naira, Obasanjo questioned Tinubu’s government’s decision to devalue the currency, as many manufacturers need to import the majority of their inputs, which counteracts the benefits of a weak naira.

“What is the purpose of devaluing your currency?”

“Is it to sell more of the oil that we have?”

Obasanjo concluded by expressing skepticism about the effectiveness of returning to monetary and fiscal orthodoxy, even if it can be maintained, as a solution to Nigeria’s economic challenges.